February 4, 2015

Tiny East Village Treasure Is Huge on Charm and Priced Well Under $1M

In a city filled with space-challenged (okay, let’s just admit it, tiny) living spaces, one can only hope the expression “good things come in small packages” holds true. When we took one look at this adorable East Village co-op at 323 East 8th Street we felt compelled to take a little literary license with the well-known phrase because sometimes “great things come in small packages.”
Check out more of this East Village treasure
February 4, 2015

POLL: Would You Pay More for Better Subway Service?

The MTA’s fare hike will take effect in March, raising the price of a single subway ride from $2.50 to $2.75, and it’s made most New York train riders pretty unhappy. But what if service was better? If those flashing “delay” projections were few and far between; massive platform pileups were a thing of the […]

February 4, 2015

If You Can’t Beat ‘Em Join ‘Em: Hotels Attempt to Emulate Airbnb Amidst Competition

As the city's war against Airbnb rages on, hotels and bed and breakfasts across the city continue to see their guest numbers drop. But the decrease isn't necessarily due to the lower costs of Airbnb rentals (although we certainly wouldn't discount it) but the fact that visitors to our fair city are looking for an authentic New York experience. DNA Info reports that new hotels across the city are looking to recreate the "real experience" of staying in New York by channelling a "more urban" atmosphere with cool perks—bars amongst them—that lure local residents within their towering walls to hang with their guests.
READ MORE
February 4, 2015

$1M Sunny Loft in Former Chocolate Factory Is a Golden Ticket

The bad news: you won’t find any chocolate here. The good news: You’ll get a brilliant two-bedroom loft lined with western-facing windows, only blocks from Ft. Greene Park, for just under $1 million. Located in the 1 Rockwell Place condos, which was once a chocolate factory and remains the only true converted factory loft space in all of Fort Greene, this apartment has plenty of character thanks to original wood floors, 11-foot ceilings, and exposed beams.
More pics inside
February 3, 2015

Then and Now: From Luchow’s German Restaurant to NYU Dorm

For those of us who came to the city within the past decade, it's hard to imagine East 14th Street without its stretch of bulky NYU dorms, big-box supermarkets, and mini-chain restaurants. But of course this wasn't always what the area looked like. In the late 19th century, the area centered around Irving Place, was full of entertainment venues like the Academy of Music, the city's opera house, Steinway Hall, Tammany Hall, and the City Theatre movie house. And at the heart of it all was a restaurant that catered to both the theater crowd and the German population of the East Village–Luchow's. Luchow's was established in 1882 at 110 East 14th Street at Irving Place when German immigrant August Lüchow purchased the café/beer garden where he worked as a bartender and waiter. It remained in operation for a full century, becoming an unofficial neighborhood and city landmark, until it was replaced by NYU's University Hall dormitory.
Read the full history here
February 3, 2015

HIGHLIGHTS: De Blasio Announces Plans for More Affordable Housing and a New City-Wide Ferry Service

Mayor Bill de Blasio just wrapped up his State of the City address, and in addition to focusing in like a laser beam on affordable housing, the mayor also unveiled a number of additional improvements that certainly had us sitting up straight in our seats. In his address, De Blasio emphasized that his plan would look to creating denser, economically diverse affordable residential communities for not only low-income New Yorkers, but also for chronically homeless vets, seniors and artists. “While the state of our city is strong, we face a profound challenge,” de Blasio said during his speech. "If we fail to be a city for everyone, we risk losing what makes New York, New York…Nothing more clearly expresses the inequality gap—the opportunity gap—than the soaring cost of housing." The mayor also spoke about the administration's plan to raise minimum wage and expand public transit, which would include adding more Bus Rapid Transit lines to the outer boroughs, and, most notably, a brand new city-wide ferry system that would serve areas such as the Lower East Side, the Rockaways and Red Hook for the same cost as a subway ride. Keep reading for more highlights.
Highlights from de Blasio's speech here
February 3, 2015

7,279 NYC Homes Are Valued at More Than $5 Million

If you think that statistic is jaw-dropping, consider this, too–those 7,279 homes valued at more than $5 million amount to a total fair market value of $65.2 billion, according to data from the city’s Independent Budget Office. The Wall Street Journal requested the data to take a closer look at the proposal to impose higher property taxes on pied-à-terre owners, and the findings show that "the city’s most expensive homes would generate less money from a higher tax surcharge than what its advocates have suggested."
More details here
February 3, 2015

Boerum Hill Warehouse “Sale” Will Still Set You Back $7.2M, but It’s Worth Every Penny

If you love the wide-open layout a converted warehouse affords, you’ll want to check out this gorgeous residence at 90 Wyckoff Street in Boerum Hill because it was just reduced by nearly 10 percent. And while traditional warehouse sales of the shoe and clothing variety might save you a few hundred bucks, this one will keep a cool $800,000 in your pocket. While the $7.2 million asking price doesn’t qualify for the Boerum Hill townhouse record (a distinction currently held by the house actress Michelle Williams recently sold for $8.8 million), this home is poised to take the runner-up slot and we think it easily holds its own against the competition.
See more of this light-filled home
February 3, 2015

Queens to Get Its First Apple Store; Details Revealed for St. Patrick’s Old Cathedral School Condo Conversion

The first Apple store in Queens will open later this year in the Queens Center Mall. [9to5Mac] The conversion of the St. Patrick’s Old Cathedral School in Nolita will include seven luxury condos with a total sellout of $70.7 million, a church-related community facility, and two townhouses. [TRD] Williamsberry is a new condo, not a fruit snack, set to rise […]

February 3, 2015

Bruce Willis Is Back at It, Buys $17M Duplex at 271 Central Park West

Maybe we haven't seen Bruce Willis in a new movie in a couple of years because he's been too busy unloading and buying real estate in New York. First there was the $12 million, 22-acre buy in Bedford, then the $13 million sale of his El Dorado co-op, and now he's purchased a $17 million six-bedroom duplex at 271 Central Park West, just a few blocks away from the El Dorado digs and not too far from the unit he owned before that at Trump Place on Riverside Drive. Clearly Willis likes the Upper West Side, and it looks to us like he's having some fun climbing up the luxury-listing ladder.
Check out Willis's new pad here
February 3, 2015

Mapping How the NYC Subway Could Operate in a 40-Inch Snowstorm

Though winter storm Juno isn't going down in history as the biggest snowstorm to ever hit NYC, it was the first time the city completely shut down the subway system due to a snowstorm. Governor Cuomo and the MTA said the shutdown was necessary because a portion of almost every train line runs outdoors. Not happy with that reasoning? Then you'll really enjoy this map from WNYC called the Snowpiercer; it proposes how the subway system could operate during a 40-inch snowstorm.
See the full map here
February 3, 2015

Luxe Penthouse at the Carlton House Sells at a Discounted $52 Million

It's been a couple weeks since we've seen a sale break the $50 million mark, but lo and behold, the penthouse at Extell Development's Carlton House has just sold for $52 million. According to city records filed today, the top unit sold at a markdown, originally listed for $65 million back when it first hit the market in October 2013. The price cut, however, shouldn't discount what's inside. The six-bedroom, six-plus-bathroom, 8,988-square-foot Upper East Side duplex features a private outdoor roof space (there's 5,261 square feet of outdoor space in total), en-suite bathrooms in all the bedrooms and wrap-around terraces. The building itself also boasts quite an interesting backstory. It was originally designed in 1940 by Kenneth B. Norton, but not completed until 1950 as construction was halted during World War II. After purchasing the building in 2010, Extell hired Beyer Blinder Belle to convert the structure into condos. The job cost a reported $350 million and Extell's President Gary Barnett told The New York Times that the decision to preserve the building was “actually more expensive than if we tore the damn building down and built it again.”
Check out the floor plan here
February 3, 2015

Hillary Clinton’s Campaign Headquarters May Be in Brooklyn; Behind the Scenes of the Loew’s Kings Theatre Restoration

When and if Hillary Clinton announces her presidential bid, her campaign headquarters may be in Brooklyn, which seems to be the new hot spot for the democratic party. [Brooklyn Magazine] For the best U.S. architecture per square mile, head to… Dallas? [CityLab] Tour Neil Patrick Harris and David Burtka’s Harlem townhouse. [Architectural Digest] A new project […]

February 3, 2015

Historic Park Slope Brownstone on Prospect Park Asks $5 Million

This five-story brownstone at 920 President Street has been home to the same family for decades. Consequently, it’s maintained a lot of its original details like stained glass windows, pier mirrors, pocket doors, and wainscoting. And a location right on Prospect Park makes this the perfect canvas for creating your dream home, all with an asking price just $5 under $5 million.
Take a look inside
February 2, 2015

Wake Up Over and Over Again in This $6M Yorkville Townhouse with Soaring Vaulted Ceiling

It’s Groundhog Day, and Punxsutawney Phil promises six more weeks of winter–not necessarily a bad thing if you’re viewing the latest snowfall through a picturesque wall of windows while cozying up to a roaring fire. And that’s exactly what you’ll find in this gorgeous townhouse at 343 East 84th Street in Yorkville.
More of this stunning home this way
February 2, 2015

What Would Happen if New York Let Everyone Ride the Subway for Free?

With the MTA fare hike just over the horizon, the question of whether or not all of New York has fair access to affordable public transportation comes into play. The hike, effective March 22nd, will push the cost to $2.75 per ride and $116.50 for a 30-day MetroCard, an increase of a quarter and $4.50, respectively. Like New York, cities across the globe are struggling with the same issue, but there are more than a handful of rogue riders in each taking matters into their own hands. About 500 riders in Stockholm have banded together to create Planka.nu (translation: "Dodge the fare now"), a scheme that has members pay $12 in monthly dues (an unlimited ride pass for 30 days costs about $120) which results in a cash reserve that can more than cover any fines that a member may occur. While illegal, the actions of these few scamps shed light on one important policy that's already being taken on by cities across the U.S.: subsidies. As noted in a recent article by The Atlantic, in the U.S., where government subsidies cover between 57 and 89 percent of operating costs for buses and 29 to 89 percent of those for rail, many public transit systems are quite affordable, costing in most cases less than $2, on average. So they ask, why not make the whole system free?
Is free transportation in New York unthinkable?
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February 2, 2015

Developers Rush to Break Ground and Add Affordable Housing Before Tax Incentives End

It would be nice to think that developers added affordable housing to their projects out of the goodness of their hearts, but it probably has more to do with the construction bonuses and tax incentives afforded for up to 25 years to developers when they reserve at least 20 percent of a building's units for poor and moderate-income tenants. But this real estate tax break, known as the 421a abatement, is set to expire on June 15, lighting a fire under developers to break ground on new projects. The concern, though, is that some development sites receive 421a benefits as of right (meaning solely for putting up a new building), while others are required to include affordable housing. The difference is based on geographic location. For example, Manhattan between 14th and 96th Streets and the waterfronts of Brooklyn and Queens must include affordable housing. According to Crain's, some housing advocates "want projects to get abatements only if they create affordable units—which are priced for renters who earn 60 percent or less of the area's median income."
What does this mean for the future of affordable housing?
February 2, 2015

Jaw-Dropping Photos of Williamsburg Covered in Ice; American Bible Society Sells HQs for $300M

By now you’ve probably heard about the fire raging on in Williamsburg, but you probably haven’t seen these unbelievable images of the neighborhood frozen in ice. [NYDN] The American Bible Society has sold its Lincoln Square headquarters for $300 million. [WSJ] 10 of Frank Lloyd Wright’s buildings, including the Guggenheim Museum in NYC, have been […]

February 2, 2015

A 1960s Woodland Residence Gets a Modern Extension Set on Stilts

Updating an old home comes with its challenges, but when you're faced with an unconventional site like the one seen above, adding a room isn't as easy as pouring some foundation. When approaching this project in Pound Ridge, Method Design wasn't afraid of thinking outside the box, and they applied a clever, eco-friendly design solution to the challenging renovation: a new room set on stilts. This beautiful addition is not only functional, but it also perfectly mirrors and melds with its sloped and wooded locale.
Learn more about this striking eco-extension
February 2, 2015

Brooklyn Paramount Theatre Will Reopen as a Gilded Public Performance Venue

Back in the summer we uncovered the history of the Brooklyn Paramount Theatre, which has been home to Long Island University's gymnasium since 1963. But now, the day before the Loew's Kings Theatre, a fellow historic movie house in Brooklyn, is set to reopen to the public, we've learned that the Paramount will follow suite. Brooklyn Daily reports that the Flushing Avenue theatre in Downtown Brooklyn will once again show live performances to the public, thanks to a deal between LIU and an affiliate of the Barclays Center, which will bring 1,500 seats back to the venue (down from the original 4,000) and showcase musical and comedy performances and boxing matches, all with an emphasis on emerging artists. The remainder of the space will still serve as a practice gym for LIU athletics.
More details ahead
February 2, 2015

NYC Breaks Tourism Record in 2014, Sees Increase in Chinese Visitors

After our commute this morning we couldn't help dreaming of getting out of this city for a couple of weeks (or months, who's counting), but 56.4 million people had the exact opposite idea in 2014. That's how many tourists visited the big apple this past year, smashing the previous record of 54.3 million visitors in 2013. One country that helped with the increase was China, not surprising considering the growing trend of wealthy Chinese investing in the NYC real estate market. According to the Times, "City officials estimate that more than 740,000 visitors came from China in 2014, almost five times as many as in 2009."
More on the record-breaking tourism trend
February 2, 2015

Great Piggery War Was an Early Gentrification Battle; Meet the Man with the Most Pizza Boxes in the World

Gentrification battles can be traced back to the 1850s when Midtown West’s many piggeries were set to be replaced with apartments. [NYP] Vote for building of the year in 14 categories featuring thousands of projects from all corners of the globe. [ArchDaily] Tour a cozy Carroll Gardens apartment that was six years in the making. [Apartment […]

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